Stock market quotes, forex, financial news, forex tools – money-investing.com

Brent is becoming cheaper: $ 49.5 per barrel

 Breaking News
  • Session begins with the growth of oil prices Today, oil quotes began to grow at the start of the session. We recall that yesterday, the trading was extremely volatile in nature. So, at 8.04 Moscow time, July contracts...
  • Kevin Mayer to head TikTok TickTock is a growing social network; its main content is short videos. The service belongs to the Chinese company ByteDance Inc. It became known that Kevin Mayer had made a...
  • Uber struggles with the crisis by firing employees Uber Technologies Inc., a well-known American taxi and food delivery company, is experiencing extremely hard times. The letter to employees, sent out by the Uber CEO Dara Khosrowshahi, has fallen...
  • US stock market news Last week, the last trading day ended with a good growth for US stock indices. However, positive Friday failed to “pull out” the extremely bad week. The statistics and the...
  • Oil grows due to the balance expectations The energy market ended the week in a “green zone”. The American WTI crude oil showed two-month highs on Friday. The European Brent did not lag behind the overseas brand...

Brent is becoming cheaper: $ 49.5 per barrel

Brent is becoming cheaper: $ 49.5 per barrel
August 26
10:30 2016

On Friday oil has slightly fallen in price because of the doubts of market participants regarding the probability of effective actions on the stabilizing prices of the countries that produce raw materials.

The second half of Thursday was marked by the start of the oil market growth. As a result it has amounted to more than 1% after the official confirmation of Iran participation in the negotiations on September 26-28 in Algeria. Iran is the third largest producer of oil in OPEC.

Later, Minister of oil industry of Saudi Arabia Khalid Al-Falih informed Reuters that he did not consider the necessity to interfere in the actions of the market forces, noting that the market was already “moving in the right direction” by itself.

OPEC’s Secretary General Mohammed Barkindo noted that he saw the willingness of  the members of the cartel to reach a consensus, because they were suffering from the prices collapse.

On the London Stock Exchange the quotations of futures contracts for Brent crude oil have decreased by 0.2% – to $ 49.57 per barrel to the beginning of the day.

October futures for WTI crude oil have fallen by 2 cents – to $ 47.31 per barrel on electronic trading on the New York Mercantile Exchange.
Until now it was not clear whether Iran would participate in the negotiations or not. The country is rapidly increasing the production and export of oil after the removal of sanctions.

The August production of Iran has amounted to 3.8 million barrels per day compared to January – less than 3 million, but the further growth of production and export is in stasis. The Wall Street Journal thinks that there are some doubts that the country can quickly reach the level of more than 4 million barrels per day, which was announced as the target at the beginning of the year.

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment